Ten Lifestyle scores contract wins and renewals with wealth managers

Travel and concierge company Ten Lifestyle said on Tuesday that it had secured new strategic contract wins and renewals with wealth managers across the UK, Europe, the Middle East and Africa.

Ten Lifestyle said the first of its new contract will see the firm initially launch its services in spring 2022, making concierge and lifestyle services available to a segment of the client's wealth management customers in the UK.

The AIM-listed group stated the initial launch was expected to amount to a small contract in the current financial year and grow into a medium-sized contract during its multi-year term.

Ten also said it had agreed a multi-year deal with St James's Place, an existing corporate client, to further roll-out its digitally-enabled concierge services to its partners and clients, renewed an existing large contract with a major UK private bank and secured small contracts to provide content services to two wealth managers in the EMEA region.

Chief executive Alex Cheatle said: "This is a significant development for Ten in the UK, our most mature market, demonstrating the potential for growth as we prove the impact that we can have on our corporate clients' commercial success, by delivering outstanding personal service to their valued clients.

"The win, along with the other recent business developments with wealth managers in the region, may also help provide further proof to other wealth managers, outside the UK, looking to improve their customer metrics."

As of 1040 GMT, Ten Lifestyle shares were up 4.04% to 116.0p.